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Can a bank repossess your vehicle if your payment is only 2 weeks late?

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βˆ™ 2011-02-16 23:56:59

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IF you are in DEFAULT, the lender can repo meaning "1". If being 2 wks late puts you in default of your contract, then you better clean your ride out.

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2011-02-16 23:56:59
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If you are in repossession status and are making efforts to pay on your late payments can they still repossess your vehicle?

Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.


Can a bank repossess my car if I am making some sort of payment?

If you aren't paying in full they can repossess the car. To a bank " some sort of a payment " doesn't count. Call them and make arrangements.


Can a bank suspend your license or registration for non payment on a truck?

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Can a bank repossess if the borrower defaults and there is a cosigner on the vehicle?

The cosigner becomes the target next. If you default, it is up to the cosigner to pay the bill or both of your credits are ruined and the bank takes their usual steps to repossess a vehicle.


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Can the bank repossess a vehicle even if the payments are current?

Not IF you reaffirmed the loan with the creditor.


Can a bank repossess your car for being 2 weeks late with a payment?

Read your contract. It likely says the lender can repo anytime you are in DEFAULT. Two weeks late is unusual, but they could repo when you are 1 day late.


Can a bank repossess a car before the last day of payment?

Unless it's explicitly stated in the fine print that they can't do any such thing, they have a right to repossess the moment the payment is rendered late, if they so wish. However, if you have documentation from the bank showing them explicitly giving you a deadline date, and they come to repossess before then, you may have grounds for a lawsuit. However, you would need to find out if it was the bank which had your car repossessed on that particular day, or if it was the repossessors jumping the gun and going forth with it before the date which they were specified to take possession of the vehicle.


Can a bank take a car that some else as a lien on?

Yes, the bank has the right to repossess the vehicle if you are in arrears on payments.


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Yes they absolutely can and will! Don't be foolish. Pay up before you have added fees and charges or lose the vehicle completely.


Can a bank repossess a vehicle that is not used for collateral?

If the bank has an order from a judge to liquidate or surrender property to satisfy a judgment, then yes, they may.


Can the bank take your car at the dealer if it is in the process of repossession?

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How long does it take for the bank to write off a vehicle if they are unable to repossess it?

I think it varies on how long and who the finance company is but the last time I made a payment on my truck was November of 2007 and its January of 2009 and im sill driving it


Can a creditor repossess a vehicle and sue you for the deficiency then resale the vehicle?

in most cases they will sell the vehicle at dealer auction, then bill you for the rest. example: you owed $13,000 at time of repossion. and the bank got $5000 for the car at auction, you would legally still owe the bank $8,000 . at this point you may be able to work out a payment plan with the lender, but failure to pay will result in a lawsuit.


Is it legal for a dealership to repossess a vehicle that was not financed only a bank error without letting you correct the problem?

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You can't pay for the car but the company won't come get it?

The bank that you have the loan with hires repo men to repossess the vehicle


When can a bank reposess a car?

A bank can repossess a car at any time the loan has defaulted. Many times a bank will wait until a payment is 2 to 3 months behind before repossession.


Does the bank have to tell you they are going to repossess your car.?

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Can a bank report a car stolen if in default of payment?

YES, IF YOU CLAIM NOT TO KNOW WHERE IT IS. If you call the bank and say I dont know where the car is its gone, they are going to tell you to report it stolen. If you stop making payments on it then they will repossess, if there is no car to repossess then you are still responsible to pay the monthly payment car or no car If you stop paying and there is no car to repossess then they at that point can take legal action against you. I dont know if its reported stolen but take my word for it you will pay somehow.


If you have two car loans at one bank can the bank repossess both even?

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Can the bank repossess your vehicle if you are only 17 days late in Virginia?

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If you are paying half of your car payment can they still repossess it?

My best suggestion is to contact your auto lender, and ask them the procedure for repossesions. Keep in mind that the bank can reposses your vehicle if you are 60 days late on your payments even if you attempt to only make half of your payments. Call them as soon as possible and work out a payment plan with them.


Can a bank refuse a payment on a auto loan?

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What is the average price a bank pays a recovery company for the repossession of a vehicle in the state of Mississippi?

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Your car can definitely be repossessed because of nonpayment. The bank can actually send a company to repossess your car.